Posted on

HRM 587 Managing Organizational Change Final Exam

Click the below link to access the answer

 

HRM 587 Managing Organizational Change Final Exam All Correct A+ Set 1 and 2_Answers

 

HRM 587 Managing Organizational Change Final Exam All Correct A+ Set 1 and 2_Answers

HRM 587 Managing Organizational Change Final Exam All Correct A+ Set 1 and 2_Answers

Week 8 : Final Exam – Final Exam

Page 1

Question 1. 1. (TCO All) For the next set of questions , you will first select ONE of the TCOs of the course. Then, you will be asked to write an essay about the project you worked on this term over your two companies’ change program based on the TCO you selected above. Select the TCO your essay question will cover:

TCO A – Given that progressive and successful companies require their employees to embrace change, examine how changing work conditions impact the employees.
TCO B – Given the inherent reality that all organizations must experience change in order to improve, demonstrate how “models” are used in Change Management, for diagnosing an organization’s need for change.
TCO C – Given external, internal and/or multi-levels of organization factors that drive change, assess and create a leadership model which supports and promotes each type of change within the organization.
TCO D – Given that an organization’s mission and vision will determine its strategy towards change, ensure that an organization’s change initiative is aligned with and capitalizes on its culture and mission in preparation for change.
TCO E – Given a selected Change Management implementation “model”, determine the causes of change and develop a plan of action to implement the change.
TCO F – Given that both organizations and their employees commonly resist change, understand how to recognize and overcome barriers to change and develop a strategy to manage resistance to change that will ensure successful implementation of change.
TCO G – Given that developing a “vision for change” and communicating that “vision” is a critical part of the change process, analyze the key elements of the “vision for change” and develop a strategy to communicate the change to the stakeholder.
TCO H – Given the organization’s goal of creating and implementing a sustainable change while moving toward becoming a “learning” organization, develop a plan to implement change in a sustainable manner that can be applied to any change.

Using the TCO you selected from the list above, which you felt was most relevant to your project this term, write an essay answer explaining how the change management you saw in one of your companies from your project this term followed or failed to follow the theory of success ingrained in the TCO you have selected.

State the #1 thing you think that company’s change agent did which most contributed to the success or failure of the change and why that relates to the TCO you selected.
• Include in the answer the name of the company you are discussing.
• Explain/analyze why you think this way.
(Points : 35)

Question 2. 2. (TCOs A, E) Your project this term asked you to compare and contrast two companies’ change projects or programs for change. This question will review what you learned about the change projects in a continuation of your project. It will ask you to apply course information to your project companies. For your answer, be sure to reference the names of the companies you studied in your project this term to help your instructor determine the score of your response.

Evaluate ONE of your two companies’ change interventions through the lens of Kotter’s Eight Step Model. State first the steps. (10 points) Assess how well the company realized each of the steps and what areas were less than successful in their implementation. Speak to those failed steps and what the implications were for the success or failure of the implementation. (10 points) Do you feel that Kotter’s model did assist (if it was used) or would have assisted (if you feel it wasn’t used) in this change? Why or why not? (15 points) (Points : 35)

Question 3. 3. (TCOs E,H) Your project this term asked you to compare and contrast two companies’ change projects or programs for change. This question will review what you learned about the change projects in a continuation of your project. It will ask you to apply course information to your project companies. For your answer, be sure to reference the names of the companies you studied in your project this term to help your instructor determine the score of your response.

You will assess the “sustainability” of the changes which occurred in the companies you studied. Select ONE of the company change programs for your answer to this question and state it here. Assess the change project. Was it successful or unsuccessful in your opinion? What will it take (what are some steps the company can, should, or DID take) to make it SUSTAINABLE? What theories did you consider in coming to this conclusion? Do you think this change will still be in place in one, five, or ten years? Why or why not? (Points : 35)

Question 4. 4. (TCO All) This question does not address your course project. This change scenario is envisioned instead, for this question. First, the scenario, and then the question.

Scenario: You have been asked to handle a project where the company is going to close the plant in your company and offer all of the workers an option of taking a buy-out severance package which is quite generous OR relocate to another state, where the business climate is much better (but the cost of living is higher and the style of living is lower). The current location of the company is in an area where people live well, the culture is great, and because it is in a college town, there are many fun things to do on weekends, plays to attend, sporting events, etc. The atmosphere is quite upbeat. The city where the company is moving to has very little in the way of entertainment, the housing costs are higher although not as nice, and property taxes are higher as well. The company is offering moving costs for relocation costs, but not house sale assistance. It is likely most of your employees are going to take the buy-out, but most of them are in their late 30s or early 40s and are not going to be happy about it.
The question: This term, we studied organizational development theory versus the more systematic nStep method of conducting a change process. What would be the pros/cons of using OD theory for this change project? What would be the pros/cons of using nStep? Which nStep would you recommend for this if you use one? Of the two methods (nStep or OD), which would you recommend we use for this particular change program? Why? (Points : 35)

Question 5. 5. (TCOs C,D) Your project this term asked you to compare and contrast two companies’ change projects or programs for change. This question will review what you learned about the change projects in a continuation of your project. It will ask you to apply course information to your project companies. For your answer, be sure to reference the names of the companies you studied in your project this term to help your instructor determine the score of your response.
Consider ONE of your company’s change projects (not both companies – just one.) State the company and the change process/program/project. Name the leader of the change from that company. Answer the following questions about that change:
A. Was the leader of this change project transactional or transformational? Define those two terms and explain why you feel your leader was mainly one or the other, or evenly divided between both.
B. Evaluate the leader’s implementation of the change as it compared to the company’s vision and mission statement. Were they aligned? Did this alignment (or misalignment) contribute to the success or failure of the change? Why or why not? (Points : 35)

Page: 1 2

Question 1. 1. (TCO A) Which of the following options properly identifies external and internal forces which drive change? (Points : 7)
External forces for change are totally environmental; internal forces for change are more economic.
An internal force for change is a lack of diversity in the make-up of the senior management, whereas an external force for change is a lawsuit by the EEOC requiring the management to correct diversity failure in the company.
Internal forces for change tend to create a faster change than external forces for change.
The mimetic isomorphism pressure to change was seen when Sarbanes Oxley was passed in order to ensure that an Enron-like scenario never happened again. This was an external vs. internal force for change.
None of the above

Question 2. 2. (TCO A) Which of the following best shows a company responding to identity pressures? (Points : 7)
McDonalds when they started selling coffee drinks and salads
Domino’s pizza’s new crust and pizza recipe
Dairy Queen when it invented “the Blizzard”
The Wall Street Journal when it went online
All of the above

Question 3. 3. (TCO B) Which of the following best defines the “Six Box” model of diagnosing change? (Points : 7)
Includes purpose, structure, rewards, and helpful mechanisms
Is based on the conceptualization of the organization as a transformation process
Can be a starting point for an organization that has not given attention to the trends that may impact its future operations
Includes strategy, structure, process, and lateral capability
Includes structure, style, skills, super-ordinate goals, etc.

Question 4. 4. (TCO B) During the diagnosis for change period, it is important to analyze the stakeholders for their readiness to change. Using the power-interest matrix, you review the level of interest and amount of power of stakeholders and determine the following: (Points : 7)
Your key players are those with the highest level of interest, but a lower level of power.
Your key players are those with the lowest level of interest, but the highest level of power.
Your most unimportant players are those with low levels of power but high interest.
Your stakeholders who need to be “kept informed only” are those with high levels of interest but lower levels of power.
Your stakeholders who need to be “kept informed only” are those with low levels of interest but higher levels of power.

Question 5. 5. (TCO C) The “nurturer” image of change agent will change focus when she moves from “change sponsor” to “change implementer” in the following way(s): (Points : 7)
A nurturer will be the planner, the instigator, and the decision maker for change so when she changes focus, she will ensure everyone follows the plan without determining or considering the results on people.
A nurturer will accept her role as sponsor and implementer and ensure her direct reports do the same.
A nurturer, like a caretaker, assumes that change managers receive rather than initiate change, and therefore has little role in implementation other than protection.
A nurturer, like Kotter’s theoretical manager Jim Kirk, will accept the change plan, initiate the change boldly, and ensure a new structure is determined through the project.
All of the above

Question 6. 6. (TCO C) “This organization is running like clockwork!” This statement by a company leader is likely to result in “no change” because (Points : 7)
the leader is blinded by the light.
the leader believes his vision and mission of the company will align when the change is over.
the leader has diagnosed by image that the company needs no change.
the PESTEL framework has been unchallenged for too long.
brainstorming for change was uneventful.

Question 7. 7. (TCO D) When leaders enact a vision through exemplification of required behaviors, thereby promoting themselves and their vision, they are (Points : 7)
scripting.
performing.
staging.
norming.
framing.

Question 8. 8. (TCO F) The Emotional Intelligence domains and associated competencies are used to help us determine when a potential change agent, or person, is ready for leadership. When a person exhibits the competencies of integrity, initiative, and optimism, we know he or she has reached the stage of (Points : 7)
Self-Awareness.
Social Awareness.
Relationship Management.
Self-Management.
Personal and Social.

Question 9. 9. (TCO G) One day, while on the company elevator, the head of HR is talking to the CEO and doesn’t realize his speaker phone is on when the CEO asks, “Do you think that we can afford to keep the downtown branch of the company open? Or is it time to think about across-the-board layoffs?” The HR head frowns, turns off the speaker and replies, “I’ll call you later” and hangs up. Four employees from the downtown branch are on the elevator and hear this comment. The HR head tells the four employees (whose names he does not know), “Say nothing about this. You heard nothing.” They immediately rush to their cubicles and begin spreading the word. The gossip has hit the entire department and local news agencies by the 6:00 news that night. The CEO is featured saying, “This is nothing but a rumor at this point. We have no current plan to lay off anyone.” This is an example of what type of communication plan on the part of the CEO? (Points : 7)
Spray and pray
Tell and sell
Underscore and explore
Identify and reply
Withhold and uphold

Question 10. 10. (TCO G) The change agent image of “interpreter” will most likely use which of the following key communication skills? (Points : 7)
Therapeutic listening skills
Appreciative listening skills
Appeal through deals
Storytelling, connecting the dots
Emotional breakdowns

Question 11. 11. (TCO H) According to Peter Senge and other change management experts, it is important to understand the limitations of measuring change because (Points : 7)
long-term wins almost never happen.
recognizing that traditional measures may also need to be changed will allow celebration of short-term wins.
most changes occur in a straight-line fashion.
when things get worse before they get better, it is time to halt the change and return to the old ways.
All of the above

Question 12. 12. (TCOs A, G, H) Which of the following is an example of the Beer, Nohria view of dimensions of change using Theory E + Theory O combined, from a leadership perspective? (Points : 8)
The Project Manager communicates to the software development team the timeline for a change and the CEO asks her to speed it up by 3 weeks.
The CIO decides to move from a mainframe approach to a PC approach, notifies all of her direct reports of the new vision, establishes a communication plan, timeline, and project roll-out plan, communicates the change (including positives and negatives) to stakeholders, and establishes a metrics system where innovation, efficiencies, and positive feedback on the project is measured and rewarded via awards, bonuses, and perks.
A fast food company decides to remove one slice of cheese from their cheeseburgers, although increasing the retail price by 10 cents, and has a cost savings which increases its stock price significantly. A group of health experts touts the company as being “health conscious” because the calorie content of the item is lowered.
The CEO of a Fortune 100 company hires a team of consultants to take over the HR department and eliminates all in-house HR people (about 85 employees).
A department head is invited to a meeting where he is asked to become a change agent for an exciting new product line. He accepts the assignment and goes back to his desk, whereupon he explains to his team that it is likely that their jobs will disappear in the next year because of job obsolescence, but that anyone who might like to consider helping with the new product line may be allowed to reapply for new jobs which open up.

Set 2

2. (TCOs A,E) Your project this term asked you to compare and contrast two companies’ change projects or programs for change. This question will review what you learned about the change projects in a continuation of your project. It will ask you to apply course information to your project companies. For your answer, be sure to reference the names of the companies you studied in your project this term to help your instructor determine the score of your response.
Recall that external and internal pressures often impact implementation of change in companies. For this question, please write an essay answering these questions:
1. Define specific (at least 2 each) external and internal pressures that will (or did) affect the implementation of the changes in your two companies. (10 points)

2. Name two strategies of handling these pressures that you would (have) suggested to the company leaders as being the most effective in managing those pressures during the implementation phase. (10 points)

C. Defend your positions with details about why you feel your strategies would assist with handling these pressures. (15 points) (Points : 35)

1. (TCO A) When JetBlue left their customers sitting on the tarmac for hours on Valentine’s Day, and their CEO was ultimately terminated as a result, the company was responding to (pick the best group) (Points : 7)

external, reputation, and credibility pressures.
hypercompetition, market decline, and internal pressures.
mandated, fashion, and force field pressures.
growth, identity, and new broom pressures.
All of the above

2. (TCO A) Which of the following best shows forces for change vs. forces for stability? (Points : 7)

Change forces are: adapting, sustaining, and predicting; whereas stability forces are: bureaucracy, trust, and control.
Change forces include: lay-offs, IPOs, and inventing new products; whereas stability forces are: hiring, stock buy-backs, and regular yearly dividends.
Change forces include: lay-offs, stock buy-backs, and bi-annual new models of iPhones; whereas stability forces are hiring freezes, bureaucracy, and regular yearly dividends.
Change forces include: Harry Potter Park at Universal Studios, Walt Disney Cruise Lines, and McDonald’s lattes; and stability forces are Cruise ship sinking at Giglio Island, bridging and buffering strategies, and JetBlue’s public apology after the Valentine’s Day fiasco.
Both A and C

3. (TCO B) Which of the following best defines the “congruence” model of diagnosing change? (Points : 7)

Includes purpose, structure, rewards, and helpful mechanisms
Is based on the conceptualization of the organization as a transformation process
Can be a starting point for an organization that has not given attention to the trends that may impact its future operations
Includes strategy, structure, process, and lateral capability
Includes structure, style, skills, super-ordinate goals, etc.

4. (TCO B) During the diagnosis for change period, it is important to analyze the stakeholders for their readiness to change. Using the power-interest matrix, you review the level of interest and amount of power of stakeholders and determine the following: (Points : 7)

Your key players are those with the highest level of interest, but a lower level of power.
Your key players are those with the lowest level of interest, but the highest level of power.
Your most unimportant players are those with low levels of power but high interest.
Your stakeholders who need to be “kept informed only” are those with high levels of interest but lower levels of power.
Your stakeholders who need to be “kept informed only” are those with low levels of interest but higher levels of power.

5. (TCO C) The Burke-Litwin model states that there are four transformational factors of change. Identify the answer below which contains at least three of those factors. (Points : 7)

Frames, lenses, angles, and hyperbole
Mission and strategy, leadership, and organizational culture
Hypotheses, problems, symptoms and inputs
Vision, identification strategies, litigation, and execution
None of the above

6. (TCO C) “This organization is running like clockwork!” This statement by a company leader is likely to result in “no change” because(Points : 7)

the leader is blinded by the light.
the leader believes his vision and mission of the company will align when the change is over.
the leader has diagnosed by image that the company needs no change.
the PESTEL framework has been unchallenged for too long.
brainstorming for change was uneventful.

7. (TCO D) The art of a leader managing the meaning of a vision for followers and aligning it with his or her values is called (Points : 7)

scripting.
performing.
staging.
norming.
framing.

8. (TCO F) The Emotional Intelligence domains and associated competencies are used to help us determine when a potential change agent, or person, is ready for leadership. When a person exhibits the competencies of integrity, initiative, and optimism, we know he or she has reached the stage of (Points : 7)

Self-Awareness.
Social Awareness.
Relationship Management.
Self-Management.
Personal and Social.

9. (TCO G) One day, while on the company elevator, the head of HR is talking to the CEO and doesn’t realize his speaker phone is on when the CEO asks, “Do you think that we can afford to keep the downtown branch of the company open? Or is it time to think about across-the-board layoffs?” The HR head frowns, turns off the speaker and replies, “I’ll call you later” and hangs up. Four employees from the downtown branch are on the elevator and hear this comment. The HR head tells the four employees (whose names he does not know), “Say nothing about this. You heard nothing.” They immediately rush to their cubicles and begin spreading the word. The gossip has hit the entire department and local news agencies by the 6:00 news that night. The CEO is featured saying, “This is nothing but a rumor at this point. We have no current plan to lay off anyone.” This is an example of what type of communication plan on the part of the CEO? (Points : 7)

Spray and pray
Tell and sell
Underscore and explore
Identify and reply
Withhold and uphold

10. (TCO G) Toxic handlers, as related to change management communication, do the following: (Points : 7)

handle all calls with the Environmental Protection Agency.
talk in stages using assertions, requests, and declarations.
listen empathetically, and help cool angry people down, act like sponges, and often burn out quickly.
All of the above
None of the above

11. (TCO H) A sign that a change is “sustained” could be seen as (Points : 7)

a significant and abrupt drop in the stock price of the company.
receiving an offer from a competitor to buy the company.
sending out WARN act notices.
finding that the change has become baked into the culture.
a reward system which is outdated.

12. (TCOs G,H) Review this story and pick the best answer based on your understanding of change management practices:
Company X,Y,Z establishes a vision for change where “cutting costs is critical to our survival” and establishes a reward system to the department which cuts costs the most in one quarter, and states it will be a “department-based reward” system for the next four quarters. By the “most” the management establishes, the cuts will be valued by a somewhat complicated algorithm % and $$ of cut in the total expense budget. The sales team goes for the gold and cuts their travel budget by 50%, which is by far the biggest department cut in both $ and %. They win the 1st quarter reward. In quarter 2, the IT team cuts expenses the most by ending the purchase of all new software or PCs. In quarter 3, the production line cuts their expenses the most by laying off 60% of the workers (sales have dropped significantly and technology problems have slowed production, so this was needed anyway.) (Points : 8)

The company did a good job establishing urgency and aligning metrics with the vision for change, and this change appears to be successful.
The company aligned metrics with the vision for change, and created its own nStep method of change.
The company culture is dysfunctional and could have learned from CEO Bethune and the Continental Airline’s own culture of “cost is everything.”
The company will probably win the J.D. Power and Associates award for customer satisfaction this year.
The reward system is a “spray and pray” system.

HRM 587 Managing Organizational Change Final Exam All Correct A+ Set 1 and 2_Answers

Posted on

HRM 599 Benefits Week 8 Final Exam

Click the below link to access the answer

 

HRM 599 Benefits Week 8 Final Exam Complete set 1 and set 2 A+ Answer

 

Set 1

1. Question : (TCO A) What are some of the legal and regulatory influences on discretionary benefits?

2. Question : (TCO B) Give a brief overview of the main provisions of HIPAA.

3. Question : (TCO C) Discuss the two forms of employer-sponsored disability coverage. Analyze the potential advantages of each for the employee and for the employer.

4. Question : (TCO D) Your company’s CEO is interested in implementing a new dental plan for employees and has asked you to do some research. The CEO wants you to report back to him in 3 weeks with the following information: What are the three main types of dental care plans? Discuss each plan and make a recommendation for your company.

5. Question : (TCO E) Discuss the various FASB rulings associated with retiree health insurance.

6. Question : (TCO F) You have recently been hired as an employee benefit consultant and have been asked to recommend the establishment of either a defined contribution or a defined benefit plan. Given the following employer objectives, which type of plan would you recommend? Specify the type of retirement plan you would recommend. Explain how your recommendation would handle the employer’s objectives.
Employer objectives include majority of employees are young would like to encourage long potential service concerned about providing retirement income, capital accumulation, and/or estate benefits concerned about limiting their funding costs and administrative expenses.

7. Question : (TCO G) Discuss the concept of “good business sense” of benefits communication and the primary objectives of an organization’s benefits communication program.

8.Question : (TCO H) Family assistance programs help employees with caring for loved ones, both young and old. Briefly describe the three types of family assistance programs and their benefits.

Set 2

Question 1. Briefly outline the key provisions of the Pension Protection Act of 2006.

Question 2. What are some of the legal and regulatory influences on discretionary benefits?

Question 3. Discuss and compare multiple-payer versus single-payer systems in the United States.

Question 4. What are the main characteristics of long-term disability insurance?

Question 5. Compare the basic structure of a profit sharing plan, thrift/savings plan, a 401(K) plan, and an employee stock ownership plan. Why would an employer choose to implement each one of these plans over the other?

Question 6. Discuss the various FASB rulings associated with retiree health insurance.

Question 7: Discuss the concept of “good business sense” of benefits communication and the primary objectives of an organization’s benefits communication program.

Question 8. Employers must provide some disclosure information regarding their benefits plan as spelled out by ERISA. One of those requirements includes a summary plan description, or SPD. What is an SPD? Briefly discuss the information that SPDs must provide.

Question 9. Family assistance programs help employees with caring for loved ones, both young and old. Briefly describe the three types of family assistance programs and their benefits.

 

HRM 599 Benefits Week 8 Final Exam Complete set 1 and set 2 A+ Answer

Posted on

ACCT 553 Fed Taxes Mgmt Decisions Final Exam Answer

Click the below link to access the answer

 

ACCT 553 Fed Taxes Mgmt Decisions Final Exam Answer


 

ACCT 553 Fed Taxes Mgmt Decisions Final Exam Complete A+ Answer

 
 

ACCT 553 Fed Taxes Mgmt Decisions Final Exam Complete A+ Answer

1. (TCO E) For federal tax purposes, income attributable to the direct efforts of the tax payer, such as salary, is classified as: (Points : 5)
portfolio income.
active income.
passive income.
None of the above

2. (TCO D) Which of the following is an example of a nontaxable like-kind exchange? (Points : 5)
An ice cream making machine for inventory of Rocky Road ice cream
Land for an office building
Office equipment for a computer
All of the above

3. (TCO H) Alex and Amy file a joint return for the 2012 tax year. Their adjusted gross income is $90,000. They had net investment income of $8,000. In 2012, they had the following interest expenses:
• Personal credit card interest: $5,000
• Home mortgage interest: $10,000
• Interest paid on qualified education loans: $2,000
• Investment interest (on loans used to buy stocks): $10,000
What is the interest deduction for Alex and Amy for the 2012 tax year? (Points : 5)
$8,000
$12,000
$20,000
$18,000

4. (TCO B) Unreimbursed expenses of employees are considered to be deductions: (Points : 5)
for AGI.
from AGI.
for or from AGI, depending on the type of expense.
None of the above

5. (TCO A) Which of the following expenditures is always an itemized deduction for individual taxpayers? (Points : 5)
Charitable contributions
State and local income taxes
Moving expenses
All of the above

6. (TCO E) Adam sold a piece of business equipment that had an adjusted basis to him of $50,000. In return for the equipment, Adam received $80,000 cash and a painting with a fair market value of $20,000 from the buyer. The buyer also assumed Adam’s $25,000 loan on the equipment. Adam paid $5,000 in selling expenses. What is the amount of Adam’s gain on the sale? (Points : 5)
$90,000
$125,000
$80,000
$70,000

7. (TCO I) Gary and Gerdy Gray purchased a home for $125,000 on September 15, 2010. On October 7, 2011 they were divorced, and as part of the divorce agreement, the home was transferred to Gerda, who sold the home on October 18, 2012 for $350,000. How much can Gerda exclude? (Points : 5)
$350,000
$250,000
$225,000
$0

8. (TCO I) Under the accrual method of accounting, expenses are generally accrued when: (Points : 5)
the expenses are actually incurred.
the taxpayer elects to take the deduction.
payment is made.
None of the above

9. (TCO D) Sean, a calendar year taxpayer, purchased stock on June 18, 2011 for $8,000. The stock became worthless on June 4, 2012. What is Sean’s loss in 2012? (Points : 5)
$8,000 short-term capital loss
No loss
$8,000 long-term capital loss
$8,000 itemized deduction for investments

10. (TCO A) Which of the following is a primary source of tax authority? (Points : 5)
Revenue ruling
Tax Court case
Temporary regulation
All of the above

11. (TCO F) A nonbusiness bad debt is deductible for tax purposes as a(n): (Points : 5)
short-term capital loss.
itemized deduction.
long-term capital loss.
ordinary business deduction.

12. (TCO A) The art of using existing tax laws to pay the least amount of tax legally possible is known as: (Points : 5)
tax evasion.
tax avoidance.
tax elusion.
None of the above

13. (TCO C) Which of the following items is not taxable? (Points : 5)
Interest on U.S. Treasury bills, notes, and bonds issued by an agency of the United States
Interest on federal income tax refund
Interest on New York State bonds
Discount income in installment payments received on notes bought at a discount

14. (TCO B) Under the terms of their divorce agreement executed in October 2011, Keith transferred Corporation M stock to his former wife, Karen, as a property settlement. At the time of the transfer, the stock had a basis to Keith of $20,000 and a fair market value of $50,000. What is the tax consequence of this transaction to Keith, and what is Karen’s basis in the Corporation M stock? (Points : 5)
Keith has a gain of $30,000; Karen’s basis is $20,000.
Keith has a gain of $30,000; Karen’s basis is $50,000.
Keith has no gain or loss; Karen’s basis is $20,000.
Keith has no gain or loss; Karen’s basis is $50,000.

15. (TCO G) During 2012, Edward East had wages of $10,000 and received unemployment compensation of $6,200 from the state. Edward is single and 45 years old. What is the amount of unemployment compensation to be included in his gross income? (Points : 5)
$0
$2,100
$4,200
$6,200

16. (TCO F) Hobby expenditures are deductible to the extent of: (Points : 5)
total individual gross income.
hobby gross income.
trade or business gross income.
nonbusiness gross income.

Page: 1 2

Essays

1. (TCO E) In 2012, Uriah Stone received the following payments:
• Interest on refund of federal income tax for 2011: $400
• Interest on award for personal injuries in 2009 automobile accident: $300
• Interest on municipal bonds: $1,500
• United States savings bonds interest (Series H): $1,000
What amount, if any, should Mr. Stone report as interest income on his 2012 tax return?

2. (TCO G) Would any of the following items be deductible on an individual’s income tax return? If so, would the item be deductible for or from AGI? Explain each item.
(a) Hobby expenditures of $2,000 in excess of hobby gross income
(b) $3,000 loss on the sale of a personal sailboat
(c) Interest of $8,000 on money borrowed to purchase tax-exempt securities (Points : 17)

3. (TCO F) Michael and Mary Mason sold for $380,000 in November of 2012 their residence that they had purchased in 2002 for $75,000. They made major capital improvements during their 10-year ownership totaling $25,000.
(a) What is their excluded gain? How much must they recognize?
(b) Suppose, instead, that the Masons sold their home for $720,000. They moved into a smaller house costing $220,000. What is their excluded gain? How much must they recognize? (Points : 17)

4. (TCO G) John Baron, a professional baseball player, raises Black Angus cattle under circumstances that would indicate that the activity is a hobby. His adjusted gross income for the year is $50,000, and he has $500 of other miscellaneous itemized deductions, all of which are subject to the two-percent floor. During the taxable year, the feed for the cattle cost $1,500. The income from the sale of cattle was $1,400.

(a) Under the hobby loss rule, to what extent is the expense of $1,500 deductible?
(b) Under the two-percent-of-adjusted-gross-income limitation, how much is the overall deductible amount of his itemized deductions?

5. (TCO I) Rick, a single individual with a salary of $45,000, incurred and paid the following expenses during the year:
Student loan interest: $800
Medical expenses: $5,000
Alimony: $11,000
Mortgage interest on personal residence: $3,000
State income taxes: $4,000
Moving expenses: $1,500
Contribution to a traditional IRA: $2,000
Analyze the above expenses, and determine which ones are deductible for AGI. Please support your position.

6. (TCO I) Kim had the following transactions for 2012:
Salary: $48,000
Damage award (compensatory) for city bus accident: $18,000
Loss on sale of stock investment: $5,600
Loan from father to purchase auto: $14,000
Alimony paid to ex-wife: $8,000
What is Kim’s AGI for 2012?

7. (TCO F) Sara owns a sole proprietorship, and Phil is the sole shareholder of a C (regular) corporation. Each business sustained a $9,000 operating loss and a $2,000 capital loss for the year. Evaluate how these losses will affect the taxable income of the two owners? (Points : 17)

8. (TCO B) Dave forms a corporation and transfers property having a basis to him of $22,000 and a fair market value of $29,000 to the corporation for 1,000 shares of $11 par stock. One year later, Hank transfers property having a basis to him of $3,500 and a fair market value of $4,500 for 100 shares of the stock. Hank is not related to Dave. The corporation issued no other stock.
(a) How much gain does Dave recognize on his exchange? What is the basis to Dave of his 1,000 shares?
(b) What gain or loss is recognized by the corporation when it issues its shares to Dave? What is the basis to the corporation of the property it received from Dave?
(c) What is the gain or loss that Hank recognizes on this transaction, and what is his basis in his 100 shares?

9. (TCO F) In 2012, OK Company had a net loss of $82,000 from operations. Jane owns OK Company and works 20 hours a week in the business. She has a large amount of income from other sources and is in the 35% marginal tax bracket. Would Jane’s tax situation be better if OK Company were a proprietorship or a C corporation? Explain why.

10. (TCO H) On May 18, 2012, Sara purchased 30 shares of ABC stock for $210, and on October 29, 2012, she purchased 90 additional shares for $900. On November 28, 2012, she sold 48 shares, which could not be specifically identified, for $576, and on December 8, 2012, she sold another 25 shares for $150. What is her recognized gain or loss?

ACCT 553 Fed Taxes Mgmt Decisions Final Exam Answer


Posted on

A Special Education Success Story With Add and ADHD

In our rapidly moving culture, students diagnosed with ADD or ADHD (Attention Deficit Disorder or Attention Deficit Hyperactivity Disorder) are an ever-increasing challenge for teachers. This is a true story of success in a six-week project where middle school children diagnosed with ADD and ADHD enjoyed the same success, if not more than, the other students.

 

In our rapidly moving culture, special education students, diagnosed with ADD or ADHD (Attention Deficit Disorder or Attention Deficit Hyperactivity Disorder) are an ever-increasing challenge for teachers. Having taught in some capacity for nearly 40 years and being a parent of an active little boy, I have studied these conditions with immediate personal interest.

 

Holding Their Attention?

Early in my work with the attentionally challenged, I observed that if the learning activity were engaging enough, many of these students could hold attention for long periods. Special Education students diagnosed with ADD or ADHD often have the ability to attend for long periods working with computers or video games. I wondered, could the problem lie more in the pace of the learning activity?

 

Give Them What They Need

Subsequently, I began to provide activities in my classroom that had some of the same qualities of the immediate response achieved in those computerized attention-holders. One of the most successful of these was the excavation of fossils.

 

The Setup

Fossil excavation was a 6-week class – more of a club, really – in which students excavated a real fossil fish from a soft rock matrix. This time the class was made up of many special education students with various learning challenges, especially ADHD. The outcome of the class was remarkable.

 

Getting Their Interest and Attention

We started with a sort of guessing game involving fossils hidden in velvet bags and moved quickly into individual excavation of the fossils. Within minutes, my work was done; the students worked independently for the remainder of the two-hour class. My hardest work that day was to enforce clean-up-the students simply didn’t’ t want to stop working.

 

Tools And Supplies

The only tools needed for this activity were small screw drivers-the sort that are available from any hardware store in a set of increasing sizes beginning with an eye-glass tool . I also provided magnifiers of varying types. The most sought after were the dissecting microscopes, which gave the individual the best view of the fragile fossil. However, much of the work could be easily accomplished using the naked eye or a magnifier in a stand, just to leave the hands free.

 

And Then There Are the Behavioral Challenges

I was presented with a new challenge about halfway into the second class: a behaviorally disruptive student who had been removed from another class. I did what I could to introduce him to our work and bring him up to speed. His initial work was little more than digging a hole through his rock, paying little attention to the fossil it contained.

 

Success!

Then a wonderful thing happened. Another boy, a challenging special education student who generally had little academic success, began to teach. You see, this boy was enthralled with digging out the fossil and he was having incredible success. He single-handedly took over and my work was done.

 

Students Give Rave Reviews, Almost

The final endorsement came at the end of our 6-week class. Throughout the period, I had rarely interrupted their work, but I had shown a couple of videos to give the students some additional detail about fossil preservation and excavation, geologic history and so on. At the last class, I asked the students to verbally evaluate the class. When I asked how I could improve the class, all agreed: Only show the videos if we can continue excavating our fossils during it!

 

This is a true story of success. In this six-week project middle school children diagnosed with ADD and ADHD and receiving special education services enjoyed the same success, if not more than, the other students.

 

Even the most absorbing tool, the TV, was not high on these students’ list of significant work. As a teacher, I felt I had been given a great gift of learning about how to support these special students. I encourage you to try it!

 


 

Posted on

5 Preschool Activities For Grandparents Day

As with most holidays, school will use Grandparents Day as a special activity for the class. Have no fear; there is always something new and different to try.

 

As with most holidays, school will use Grandparents Day as a special activity for the class. This can be especially true of preschool, where there is as much focus on social activity and every day life as there is on learning the functionalities of reading, writing, and arithmetic. However, with so many different holidays to plan activities and crafts for, you may be out of ideas for Grandparents Day. Have no fear; there is always something new and different to try.

 

If your preschool has a high level of parental involvement, you may have your preschoolers create family trees. While these don’t have to be long and detailed, they can trace the immediate family and the grandparents. It can also be made creative, actually drawing a tree with branches that reach to each family member.

 

You can also have your students create Grandparents Day “gift bags”. Make the bag as much a part of the gift as what it contains by having your students color paper lunch bags. Then, fill it with a hand-crafted greeting card for the holiday and perhaps things like a colored picture or a couple of pieces of candy.

 

One fun idea, if you have the time and patience, is to have the children put on a show. They could act out a scene depicting children showing respect and thanks to the elderly or even sing to their grandparents. Having these respected members of society visit the classroom could be a very special event and could make the elderly feel useful. At the same time, perhaps the children’s grandparents could visit and tell stories from their youth, read books, or even just answer questions about the “olden days”.

 

With signed permission slips, you may plan a field trip to a nursing home, where the children can greet the lonely elderly and wish them a happy Grandparents Day at a time when there is no one else to bring such a pleasant message to their lives.

 

Or, you could simply plan an arts and crafts activity that will create a cute gift for the childrens’ grandparents on this special holiday.

 


 

Posted on

‘No Bully’ Policy at Philadelphia Schools

‘No Bully’ Policy at Philadelphia Schools

 

Approximately, two thirds of all deaths among children and adolescents in the United States are the result of injury-related causes. These include motor vehicle crashes, unintentional injuries, homicide and suicide. According to the Centers for Disease Control and Prevention, at least 126 students committed a school-associated homicide or suicide between 1994 and 1999.

 

Philadelphia Schools has a “just say no” policy, when it comes to school bullies and other related negative student behavior.

 

Approximately, two thirds of all deaths among children and adolescents in the United States are the result of injury-related causes. These include motor vehicle crashes, unintentional injuries, homicide and suicide. According to the Centers for Disease Control and Prevention, at least 126 students committed a school-associated homicide or suicide between 1994 and 1999. Of these students, 28 committed suicide, of which eight intentionally injured others immediately before killing themselves. None of these students were involved in gangs.

 

The suicides, now referred to as “bullycide”, were attributed to school-associated violence, including bullying and other such social stressors. Though the 126 students may seem small for a national statistic, this is only the tip of the iceberg. It does not address the number of students who develop substance abuse and psychological problems due to being bullied and harassed at school — some for many years from elementary through high school by the same individual(s).

 

“Pediatrics”, Journal of the American Academy of Pediatrics, reported in its May 5, 2004, issue that the rise of obesity and overweight in school-aged children is associated with “many negative social and psychological ramifications.” Peer aggression is at the top of the list.

 

To work toward eliminating this rising national problem in their schools, Philadelphia schools developed a policy that prohibits anyone from bullying or seriously threatening any member of the school community during school hours and coming to and from school. This includes:

 

•    Repeated threats;

•    Threats of bodily injury;

•    Physical or psychological intimidation;

•    Extortion of any type;

•    Fighting or other acts/threats of violence;

•    Repeatedly posting information about another individual without his/her consent on the Internet, bulletin boards, school walls, individual’s personal belongings, or any other location — whether it is during school hours or not; and

•    Harassment for any reason, but especially due to race, gender, disability, language or physical characteristic.

 

Besides school personnel, Philadelphia schools have enlisted the help of the students and their parents. They have set up a Bully Hotline that is staffed 24 hours a day for students or parents to report school-related abuse. The hotline serves over 175 languages through a telephonic interpretation service. Philadelphia schools promise to act on a reported problem within 24 hours of receiving the hotline complaint. For some issues, callers may receive a follow-up telephone call to ensure the situations were satisfactorily resolved.

 

Philadelphia schools created flyers in nine different languages that describe the school policy against these negative behaviors, the Bully Hotline, and instructions for non-English language individuals to access the hotline. The eight non-English languages are the most frequently encountered in Philadelphia schools and represent over 85 percent of their “English as a Second Language” students.

 

The flyers were sent to the parents of students enrolled in their schools. Additionally, they asked parents and community groups to further distribute the flyers throughout the city.

 

Philadelphia schools are truly concerned about the safety and well-being of its students. They believe that all students have a right not to be bullied or harassed. With their “no bully” policy and the hotline, they are well on their way to prevent, address and eliminate intimidation and harassment of any student for any reason.

 

This information on Philadelphia schools is brought to you by www.schoolsk-12.com.